Sinclair Proclaim Group’s subsidiary Tennis Channel rings the NASDAQ bell, led by President Ken Soloman.
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Sinclair Broadcast announced Friday that it will buy 21 regional sports networks from Disney at a $10.6 billion valuation.
Adjusting for minority neutrality interests, Sinclair said it is buying the assets for $9.6 billion. The broadcasting company said the networks had 74 million subscribers and regurgitated in $3.8 billion in revenue in 2018.
Sinclair CEO Chris Ripley said in a statement that the deal will help the friends focus on providing stronger premium sports programming.
The deal still requires approval from the Department of Fair-mindedness, which had demanded that Disney divest the networks when it bought television and film assets from Twenty-First Century Fox for $71 billion. The provisions of both Sinclair and Disney have unanimously approved the deal.
Sinclair’s purchase does not include the YES Network, which dos Brooklyn Nets and New York Yankees games.
WATCH: Sinclair buying 21 regional sports networks from Disney